NYSE$IHS
IHS Holding · Q3 2025 earnings
Q3 2025 earnings · · Before market open · Investor relations
Briefing
Revenue rises 8.3% to $455.1M as adjusted EBITDA margin holds at 57.5%
IHS Holding Limited reported Q3 2025 results for the period ended September 30, 2025, with revenue of $455.1 million, up 8.3% year over year despite a 3.0% headwind from the Kuwait disposal. Organic revenue grew 6.6% on continued colocation, lease amendments and new site additions, supplemented by a 4.7% FX translation benefit led by Naira appreciation. Adjusted EBITDA increased 6.3% to $261.5 million for a 57.5% margin. Income for the period was $147.4 million versus a $205.7 million loss a year ago, primarily on favorable Naira-related finance movements. Cash from operations rose 42.3% to $259.6 million and ALFCF surged 81.2% to $157.8 million. The company raised full-year 2025 guidance across revenue, adjusted EBITDA and ALFCF.
- Revenue was $455.1M (+8.3% YoY) with organic growth of 6.6% despite Kuwait divestiture headwind
- Adjusted EBITDA grew 6.3% to $261.5M; margin was 57.5%, in line with Q2 2025
- Income for the period was $147.4M vs a $205.7M loss in Q3 2024 on improved finance results
- Cash from operations rose 42.3% to $259.6M; ALFCF increased 81.2% to $157.8M
- FY2025 guidance raised: revenue $1.72–1.75B, adjusted EBITDA $995M–1.015B, ALFCF $400–420M
Headline financials
Revenue & EPS history
IHS · Revenue · Quarterly
$455M
Revenue by segment
IHS · $455M total across 3 segments · Q3 2025
- Nigeria$268M—58.9%
- Sub-Saharan Africa (ex-Nigeria)$136M—29.9%
- Latin America$51.2M—11.3%
Forward guidance
IHS raised FY2025 outlook on strong year-to-date performance and favorable FX, while maintaining capex and leverage targets.
Tailwinds
- Revenue guidance raised to $1.72–1.75B from $1.70–1.73B
- Adjusted EBITDA guidance raised to $995M–1.015B
- ALFCF guidance raised to $400–420M; consolidated net leverage at 3.3x within 3.0–4.0x target
Headwinds
- Organic growth partially offset by churn from MTN Nigeria site vacates and 9mobile agreement
- Total capex up 16.3% YoY in Q3 to $77.3M
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 12 quarterly earnings reports · overlaid with Q3 2025
+4.3%
Avg return
Earnings day
+6.0%
Avg return
5 days after
+4.5%
Avg return
30 days after
69%
9 / 13 earnings
Positive
+24.6%
Q4 2022
Best reaction
-14.1%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | +1.4% | -0.1% | +0.5% | |
| Q3 2025 | +3.9% | -4.3% | +18.4% | |
| Q4 2024 | +13.3% | +34.3% | +26.3% | |
| Q2 2024 | +16.4% | +24.3% | +11.4% | |
| Q4 2023 | +13.1% | +21.1% | +40.6% | |
| Q3 2023 | -5.7% | -7.2% | -21.4% | |
| Q2 2023 | -12.0% | -15.1% | -38.8% | |
| Q1 2023 | -5.9% | -7.1% | +2.5% | |
| Q4 2022 | +24.6% | +23.4% | +32.1% | |
| Q3 2022 | +9.2% | +6.9% | -6.2% | |
| Q2 2022 | -14.1% | -13.8% | -21.1% | |
| Q1 2022 | +6.7% | +4.7% | -4.9% | |
| Q4 2021 | +5.1% | +11.4% | +18.7% | |
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